Ready-to-Drink (RTD) Coffee - Equatorial Guinea

The Ready-to-Drink (RTD) Coffee market in Equatorial Guinea is experiencing steady growth due to changing consumer preferences and the influence of global trends in the beverage industry.

Customer preferences: Equatorial Guinea, like many other countries in the region, has a strong coffee culture. However, in recent years, there has been a shift in consumer preferences towards convenience and on-the-go consumption. This has led to an increase in demand for ready-to-drink coffee products, which offer convenience and portability.

Trends in the market: One of the key trends in the RTD coffee market in Equatorial Guinea is the growing popularity of flavored and specialty coffee drinks. Consumers are increasingly looking for unique and indulgent flavors, such as caramel, mocha, and vanilla, in their coffee beverages. This trend is driven by the desire for a more premium and enjoyable coffee experience. Another trend in the market is the rising demand for healthier and functional beverages. Consumers are becoming more health-conscious and are seeking out products that offer nutritional benefits. As a result, there is a growing demand for RTD coffee products that are low in sugar, fat, and calories, and contain added vitamins and antioxidants.

Local special circumstances: Equatorial Guinea is a small country with a relatively small population. This presents both opportunities and challenges for the RTD coffee market. On one hand, the small market size limits the potential for volume growth. On the other hand, it allows for a more targeted and personalized approach to marketing and product development. In addition, Equatorial Guinea has a tropical climate, which can influence consumer preferences for cold and refreshing beverages. This makes the RTD coffee market particularly well-suited for growth in the country, as these products can offer a refreshing alternative to hot coffee.

Underlying macroeconomic factors: Equatorial Guinea is experiencing steady economic growth, which is driving an increase in disposable income and consumer spending. This is a key driver of the RTD coffee market, as consumers have more purchasing power to spend on convenience products like ready-to-drink coffee. Furthermore, the country is witnessing urbanization and a growing middle class, which is leading to changes in lifestyle and consumption patterns. As more people move to cities and adopt busy lifestyles, the demand for convenient and on-the-go products is increasing, including ready-to-drink coffee. In conclusion, the Ready-to-Drink (RTD) Coffee market in Equatorial Guinea is growing due to changing consumer preferences, the influence of global trends, and underlying macroeconomic factors. The shift towards convenience and on-the-go consumption, the popularity of flavored and specialty coffee drinks, and the demand for healthier and functional beverages are driving the growth of the market. Additionally, the small market size and tropical climate of Equatorial Guinea present both opportunities and challenges for the RTD coffee market. The steady economic growth, urbanization, and growing middle class in the country are also contributing to the growth of the market.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.